Do we still have safe and reliable centralized exchange?

[Maxicreed]

FTX was among the top 3 exchanges before it broke our heart unexpected. The SBF saga was a wake up which ultimately led to the adoption of the concept of the Merkel tree Proof of Reserve. The market have since shown some sign of strength and recovery until the recent Binance cases with few European and north American countries regulations.

The most recent will be their news of downsizing and the sudden termination of the five-year partnership with the Argentine Soccer Association, just after a year. These have raise suspicious question over the safety of user assets.

I don't think we can afford another FTX and I hope Binance survive this heat to bounce back. This scenario also help resonate the famous adage" don't put your eggs in one basket" cos you will definitely loose all if anything happens but the question is which exchange can be reliable and safe at the moment?

 

[ImamShaheb]

Binance has done this layoff things quite several times. According to CZ, they do this on weekly basis. But yeah, it's hard to see that, they've terminated the partnership. Actually Binance is getting the heat from most of the countries compared to it's competitors. Let's hope these things resolves soon for the sake of mass crypto adaptation.

 

[Maxicreed]

Binance has done this layoff things quite several times. According to CZ, they do this on weekly basis. But yeah, it's hard to see that, they've terminated the partnership. Actually Binance is getting the heat from most of the countries compared to it's competitors. Let's hope these things resolves soon for the sake of mass crypto adaptation

Laying of employees on weekly basis doesn't sound healthy imho. It's more like contributing to unemployment which will not only have an impact in adoption but will have a negative impact to the global economy.
I guess their size is the issue here and probably are no longer able to manage their recurrent expenditure.

 

[Zeddicus]

Laying of employees on weekly basis doesn't sound healthy imho. It's more like contributing to unemployment which will not only have an impact in adoption but will have a negative impact to the global economy.
I guess their size is the issue here and probably are no longer able to manage their recurrent expenditure.

The bear market hasn't been favourable to some giant. Coinbase, Bybit and Houbi did also downsize at some point but seems to be in good shape atm. Tho, it's fair be concerned cos users assets are at their disposal

 

[Kizozo]

FTX was among the top 3 exchanges before it broke our heart unexpected. The SBF saga was a wake up which ultimately led to the adoption of the concept of the Merkel tree Proof of Reserve. The market have since shown some sign of strength and recovery until the recent Binance cases with few European and north American countries regulations.

The most recent will be their news of downsizing and the sudden termination of the five-year partnership with the Argentine Soccer Association, just after a year. These have raise suspicious question over the safety of user assets.

I don't think we can afford another FTX and I hope Binance survive this heat to bounce back. This scenario also help resonate the famous adage" don't put your eggs in one basket" cos you will definitely loose all if anything happens but the question is which exchange can be reliable and safe at the moment.

It is not actually a good news seeing what is happening to Binance because they play a great role in the crypto space. It's obvious the bear market has affected them and I'm confident the impact wouldn't be much because they have their reputation to protect but surprisingly few CEXes such as OKX, Crypto dot com and particularly Bitget who seems to shrug off the effect of this bear market to continuously expand globally while also creating employment opportunities.

 

[ananyabushra]

It is not actually a good news seeing what is happening to Binance because they play a great role in the crypto space. It's obvious the bear market has affected them and I'm confident the impact wouldn't be much because they have their reputation to protect but surprisingly few CEXes such as OKX, Crypto dot com and particularly Bitget who seems to shrug off the effect of this bear market to continuously expand globally while also creating employment opportunities.

You're absolutely right. I've seen significant improvements in Bitget and Crypto dot com over the past few years. However, I can't overlook some of the drawbacks in CDC, such as limited accessibility in most regions and a narrow range of cryptocurrencies

 

[ImamShaheb]

Laying of employees on weekly basis doesn't sound healthy imho. It's more like contributing to unemployment which will not only have an impact in adoption but will have a negative impact to the global economy.
I guess their size is the issue here and probably are no longer able to manage their recurrent expenditure.

Actually, Nance is doing this to keep up the quality in the first place. Either improvement or unemployment 🥹.

 

[ImamShaheb]

The bear market hasn't been favourable to some giant. Coinbase, Bybit and Houbi did also downsize at some point but seems to be in good shape atm. Tho, it's fair be concerned cos users assets are at their disposal

& The most dangerous & funny part is, Huobi's payoff backfire 😑.

 

[ImamShaheb]

It is not actually a good news seeing what is happening to Binance because they play a great role in the crypto space. It's obvious the bear market has affected them and I'm confident the impact wouldn't be much because they have their reputation to protect but surprisingly few CEXes such as OKX, Crypto dot com and particularly Bitget who seems to shrug off the effect of this bear market to continuously expand globally while also creating employment opportunities.

Bitget & OKx has grown significantly compared to others! May check TokenInsight's Q2 report bro.